The Central Bank of Nigeria on Monday says it has dismissed or suspended some of its six officials that were involved in the N8bn currency fraud in some of its branches.

The apex bank in a statement in Abuja by the Director, Corporate Communications Department, Ibrahim Mu’azu, stated that some of the middle-level officers among the accused had been summarily dismissed or placed on indefinite suspension, depending on gravity of their offence.

It said, “The Central Bank of Nigeria will like to inform the general public of the chronology of events that led the Management of the CBN to hand over some unscrupulous staff to the Economic and Financial Crimes Commission for prosecution.

“During a routine internal audit of the Bank’s Cash Destruction activities in September 2014, the CBN Briquetting Panel, comprising senior bank staff from different branches, noticed some anomalies at the Ibadan Branch, and immediately reported this to the bank’s management.

“On further investigation ordered by the Governor, it was discovered that a systematic scheme, which has been on for several years, was being run in which mutilated higher denomination notes, originally meant for destruction, were swapped with lower denomination currencies.

“This practice, known as interleafing, basically labels a box with a higher value than its true content.

“As soon as the Bank’s internal investigations concluded beyond reasonable doubt that some wrongdoing had occurred, the affected members of staff, who are middle-level officers were, depending on gravity of offence, either summarily dismissed or immediately placed on indefinite suspension on October 21, 2014, and all handed over to the EFCC for further investigation and prosecution.”

The bank added that following the incident, a nationwide audit of all 37 branches of the CBN was conducted noting that the outcome of the investigation showed that this was an isolated scheme at the Ibadan Branch.

It said it would continue to collaborate with the EFCC to ensure that affected CBN staff as well as their accomplices in some commercial banks, were brought to justice.

The EFCC explained that five top officials of the CBN and 16 others were to be arraigned for alleged complicity in an N8bn currency fraud on Tuesday.

Head of Media and Publicity of the EFCC, Mr. Wilson Uwujaren, said in a statement on Sunday that the suspects were to be arraigned for circulating defaced and mutilated currency notes at the Federal High Court, Ibadan, Oyo State on June 2.

Uwujaren said the 16 others, expected to be arraigned alongside the CBN bigwigs, were members of staff of various commercial banks in the country.

He said that the suspects would be arraigned on five counts at the high court.

http://www.punchng.com/news/officials-involved-in-n8bn-currency-scam-dismissed-cbn/

stealing is now corruption

Is that all? What happens to the money.

THE BEGINING of THE END of government-backed robbery.

buhari should start with this case if this case is left to go unnoticed then this is the begnning of his failure

kettykin:
buhari should start with this case if this case is left to go unnoticed then this is the begnning of his failure

is he the efcc or icpc chairman?

EverestdeBliu:
is he the efcc or icpc chairman?

haha.
You dare not ask this question under the GEJ govt without being lambasted by the APC hordes.
Don't be a hypocrite.

There's a thin line between your greed and your need. You would have crossed at times without even knowing. The fact that they went all the way to cutting newspapers to sizes of currency tells a lot.

look at the faces of these thieves......




and money no just show for their face self

CSTR2:
haha.
You dare not ask this question under the GEJ govt without being lambasted by the APC hordes.
Don't be a hypocrite.

now open ur ears and get this straight...if all what Buhari does in the next 4years is to fight corruption and have many indicted,then he would have done nothing; cos corruption is like a plague that can't be totally annihilated,it may be reduced at a time and triggers in an accelerated speed in the next loosed clasp.
~he should focus on governance and leave the fight for corruption to the right agencies; enable the judiciary for a speedy,tra
nsparent and an unbiased trial.
~Buhari should focus on capital projects. Build new factories/industries and rehabitate the obsolete,dilapidated and ailing industries. Dwindle the unemployment rate...in fact,in a nut-shell,he should deliver CHANGE.

Tsunami of Change!

This can only happen if the leader does not tolerate corruption. If GEJ had won the election nothing would have happened to this criminals!!!

We are watching

EverestdeBliu:
now open ur ears and get this straight...if only what Buhari would do in this 4years is to fight corrupt and have many indicted,then he's done nothing; cos corruption is like a plague that can't be totally annihilated,it may be reduced at a time and triggers in an accelerated speed in the next loosed clasp.
~he should focus on governance and leave the fight for corruption to the right agencies; enable the judiciary for a speedy,tra
nsparent and an unbiased trial.
~Buhari should focus on capital projects. Build new factories/industries and rehabitate the obsolete,dilapidated and ailing industries. Dwindle the unemployment rate...in fact,in a nut-shell,he should deliver CHANGE.

Bros, what you are suggesting is exactly what GEJ did and you know where he is today.
Corruption is a saboteur. You can't have a tangible change and achievement without fighting it. It is like trying to dry a wet mattress in raining season.
How will you have infrastructural improvement when it is costing 10 times the actual value and contractors are using fake materials?
How can you improve on education when funds for education has been diverted?
You can not bring any water home from the river if all you have to fetch with is a basket.
Fighting corruption is as important as building infrastructure.
Over 16 billion dollars has been spent on power; what is the light situation in your area?

pedel:


Bros, what you are suggesting is exactly what GEJ did and you know where he is today.
Corruption is a saboteur. You can't have a tangible change and achievement without fighting it. It is like trying to dry a wet mattress in raining season.
How will you have infrastructural improvement when it is costing 10 times the actual value and contractors are using fake materials?
How can you improve on education when funds for education has been diverted?
You can not bring any water home from the river if all you have to fetch with is a basket.
Fighting corruption is as important as building infrastructure.
Over 16 billion dollars has been spent on power; what is the light situation in your area?

I literally have no probs with him fighting corruption,but my stand is that he should try and prosecute anyone found wanting; whether PDP,APC,Hausa,Yoruba,Igbo,Ijaw,etc. He shouldn't be biased. I don't want to hear,he gave one 2days imprisonment and sentenced the other to 200years.
....
Talking about power; the power situation didn't just start with GEJ administration,it has been there even before independence,it was there throughout Buhari's military regime and Obasanjo/Atiku (who are now APC chieftains) 8years tenure.

It shouldn't end with dismissal. They should be charged to court

Let the work begin.. This na just breeze

Ok. There are bigger criminals in the CBN though, they know themselves.

Hmmmm..

they don't wanna waste those papers, well they are guilty of their offense so no need if wasting any money to arraign them to court, just strip them of all their properties and incarcerate them all, cause a their is no of use in our economy.

This will teach others in it or intending to do it a lesson.

.

Patience Okoro-Eye (Abuja) , Afolabi Olufemi (Lagos), Kolawole Babalola (Ibadan), Olaniran
Muniru Adeola (Ibadan), Fatai Yusuf,
Adekunle (Head, Security, CBN, Ibadan) and
Ilori Adekunle Sunday (Akure)

.


It's in the veins.
.
Nationally and internationally.
.
Please jail them.

And Buhari said:


it won't be business as usual.

let he/she that has ears take heed, lest they cool off their heels in the gallows

Notice..

8billion is a lot of money ,dismissal is not enough .we need the money

OK

ok

simply put, stealing is now corruption